Advanced battery technology and manufacturing company EGI Battery closed a $10 million seed funding round.
TSV Capital led the investment round. The startup plans to use the fresh funds to scale up its manufacturing and development of high-performance batteries for aerospace, uncrewed aerial systems (UAS), robotics, and critical infrastructure applications.
Headquartered in Ann Arbor, Michigan, EGI Battery is developing next-generation high-performance lithium-ion batteries for dual-use aerospace, unmanned systems, robotics, and emerging mission-critical applications. EGI Battery is actively advancing intellectual property and manufacturing capabilities to meet industry demand in the United States.
Tom McGuckin, CEO and Founder of EGI Battery, said: “We are thrilled to welcome TSV Capital and our new family office partners as investors in EGI Battery.”
“This funding validates both the strength of our technology and the urgency of the market demand for secure, domestically designed and manufactured batteries. With this support, we are advancing Michigan-based manufacturing operations to execute our 2026 commercial plan,” added Tom McGuckin.
Battery tech startups have secured billions of dollar so far this year. More recently, NineDot Energy raised $431 million in debt financing to develop community-scale battery energy storage systems (BESS) in the New York City metro area. With fresh funds, NineDot Energy plans to start the construction of 28 battery storage projects totaling 124 MW (megawatts) / 494 MWh (megawatt-hours) – capable of powering over 100,000 New York City households during peak hours on a hot summer day.